Questrade-Some important Details about This Broker

General Information & Regulation

Questrade, a trading name of Questrade, Inc., is allegedly a registered investment dealer, a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). It is an online brokerage company established in 1999, based and regulated in Canada that provides various tradable products on all-in-one platforms and advanced trading platforms, different kinds of tools to help traders trade, as well as many services such as administrative, trade execution, custodial, and reporting.

Products

Questrade advertises that it is a multi-asset platform with an extensive range of trading instruments in financial markets, including stocks, ETFs, options, forex, IPOs, CFDs, mutual funds, bonds, GICs, international equities and precious metals. The broker also offers self-direct investing as well as portfolios.

Account Types

There is a wide selection of trading accounts offered by Questrade. Just take the most popular account types as an example, the broker gives traders four different choices, namely Tax-Free Savings Account (TFSA), Registered Retirement Savings Plan (RRSP), Individual Margin Accounts and Registered Education Savings Plan (RESP). No minimum initial deposit amount is required to open an account. However, you have to deposit a minimum of $1,000 in your account if you want to begin investing.

Trading Platform Available

When it comes to trading platforms available,Questrade gives traders all-in-one platforms of Questrade Trading (web version) and QuestMobile, and advanced trading platforms of Questrade Edge (web and desktop versions), Questrade app and Questrade Global. Anyway, we suggest you use MetaTrader4 or MetaTrader5 as the trading platform. As most traders know, the MT4 and MT5 are known as the most successful, efficient, and competent forex trading software. The MT4 offers an intuitive and user-friendly interface, advanced charting and analysis tools, as well as copy and auto-trade options. While the MT5 allows traders to execute trades on different financial markets through a single account and there is a hedging option.

Tools

Apart from the free trading platforms we have involved in above, Questrade also offers some free trading tools. The broker offers the tools of Intraday Trader and IPO Centre to help traders stay on top of the markets, as well as some tools to help traders make informed decisions and stay on top of their investments.

Deposit & Withdrawal

Questrade says to accept the most popular withdrawal methods of Electronic Funds Transfers (EFTs) and Wire transfers. EFTs are completely free and may take up to 5 business days, while Wire transfers require 1-2 business days to process and will be charged a withdrawal fee of $20 CAD for CAD wire, $30 USD for USD wire and $40 USD or CAD for international wires. As for deposits, the broker says the deposits are instant and funds appear in your accounts immediately.

Fees

Questrade also charges some fees. For self-directed investing, Stocks starting at 1/share (min. $4.95 to max. $9.95); while for portfolios, management fees starting at 0.25% (0.20% after $100,000).

Customer Support

Questrade‘s customer support can be reached by telephone: +18887837866 or by chat online. Besides, you can also follow this broker on some social media platforms like YouTube, Instagram, Facebook, Twitter and LinkedIn. However, this broker doesn’t disclose other more direct contact information like email or the company address that most brokers offer.

Pros & Cons

Frequently Asked Questions

Is Questrade regulated？

Questrade is a member of the Investment Industry Regulatory Organization of Canada (IIROC).

What trading platform does Questrade provide？

Easy forex provides Questrade Trading (web version) and QuestMobile, and Questrade Edge.

.What is the minimum deposit required by Questrade？

No minimum deposit is required to open an account with Questrade.

What types of trading accounts are available with Questrade platform？

Three types of trading accounts are available with Questrade, which include the following:

• Tax-Free Savings Account (TFSA)

• Registered Retirement Savings Plan (RRSP)

• Individual Margin Accounts

• Registered Education Savings Plan (RESP)